Government Annuities Act, 1882

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Trust and joint account.

33 & 34 Vict. c. 93.

8. (1.) Notice of any trust express, implied, or constructive affecting any savings bank annuity or insurance (except such trusts as are from time to time recognised by law in relation to deposits in savings banks, and except such trusts as are provided for by section ten of the Married Women's Property Act, 1870, or any enactment now or hereafter to be passed relating to the property of married women), shall not be entered upon any contract for such annuity or insurance, or in any deposit book relating thereto, or be receivable by the National Debt Commissioners or any savings bank.

(2.) A savings bank annuity or insurance depending on the life of any person may be granted to that person jointly with any other persons to an amount not exceeding in the whole the amount of the annuity or insurance which could have been granted to one person, and the said persons shall be deemed to be entitled to such annuity and insurance as joint tenants.

(3.) The National Debt Commissioners may permit the transfer of any annuity so granted to more persons than one under such regulations, as to such Commissioners seem fit, so however that the person on whose life such annuity is granted shall be transferee, or one of the transferees, and where it is granted on the joint lives of two or more persons, all of those persons, or such of those persons as the National Debt Commissioners think fit, shall be the transferees or included among the transferees.